"Hey, we're really sorry about fluxquanta's passing. Here is his private data which he may or may not have wanted you to see (but we'll just assume that he did). Aren't we such a caring company? Since we can no longer count on him to give us more money when our next product comes out, keep us and our incredibly kind gesture of digging through the skeleton closets of the dead in mind when shopping for your next device."

Shared photo streams are only a solution if they are used. Most people don't even write wills.

If you fail to write a will should the state just burn all your assets, assuming that's what you meant? No, that's the wrong default. Burn-when-I-die should be opt-in for specific assets, not the default.

And the good news is Apple is providing opt-in options like secure notes. Perhaps even backups too (3rd parties already do). But only after presenting the user with a big disclaimer informing them of the severe consequences of losing the password.